MobileGo Price Technical Analysis for 09/28/2017 – Chalking Up Gains!

MobileGo has chalked up significant losses against bitcoin and ethereum as these regained a positive light from the investing community. As it turned out, Morgan Stanley CEO James Gorman said that bitcoin is more than just a fad, allowing this particular currency to rally across the board.

MobileGo is a dual-blockchain token that will “gamify” the GameCredits Mobile Store which currently has over 300 games from 150 different developers. The token is the first dual-blockchain asset ever issued, as users will be able to transfer it seamlessly between the ethereum and Waves blockchain.

This is achieved by using locked wallets and smart contracts that will be used to implement decentralized features on the GameCredits Mobile platform through ethereum and Waves.

MobileGo vs. Bitcoin

MobileGo is on a steady downtrend against bitcoin for the past few hours but is currently stalling just below 0.0019. Sellers could simply be waiting for more to join the fray, possibly leading to another leg lower below the 0.0018 support zone.

Volume has been subdued in the past few hours but could pick up as bears get wind of how MobileGo is down nearly 13% to bitcoin.

MobileGo vs. Ethereum

MobileGo is lower against ethereum at 13.49% and is also stalling from its recent drop. This could lead to a pullback opportunity to the area of interest at 0.00015 before more selling pressure kicks in.

Volume is lower for this particular cryptocurrency pair so it might need a bigger market catalyst before resuming the trend. Note that ethereum is also facing a network upgrade that could also allow it to handle more transactions at a faster pace, so if the bitcoin reaction is any indication, it could be poised for another round of gains.

MobileGo vs. USD

Against the dollar, MobileGo could also face downside pressure on renewed Fed December rate hike expectations and the focus on tax cuts. This week, US President Trump reiterated his push for fiscal reform, sharing more details on the GOP framework for taxes and urging Senators to push through with the Obamacare repeal.

MobileGo was able to establish a clearer direction against bitcoin and ethereum as it scored decent gains so far. Volume remains supported for both so investor interest is present.

MobileGo vs. Ethereum

MobileGo is up 8.08% versus ethereum as the latter seems vulnerable to the drop in activity stemming from China’s regulations. Following their ban on ICO funding, authorities have decided to shut down exchanges, leading to widespread liquidation among cryptocurrencies previously enjoying large volumes in the country.

MobileGo appears to be settling back sideways again as investors wait for the next batch of catalysts and how it might impact the industry. Volume is turning slightly lower but it’s only the start of the week and activity could pick up later on.

MobileGo vs. Bitcoin

MobileGo is also higher against bitcoin even as the latter got a strong boost from resurfacing tensions from North Korea. Following Trump’s remarks in the UN General Assembly, the foreign minister responded by claiming that the US has declared war on the hermit nation. He also threatened that they will strike US bomber planes down even if they’re not in North Korean airspace.

MobileGo is a dual-blockchain token that will “gamify” the GameCredits Mobile Store which currently has over 300 games from 150 different developers. The token is the first dual-blockchain asset ever issued, as users will be able to transfer it seamlessly between the ethereum and Waves blockchain.

This is achieved by using locked wallets and smart contracts that will be used to implement decentralized features on the GameCredits Mobile platform through ethereum and Waves.

MobileGo vs. USD

MobileGo could also advance against the dollar as FOMC officials are sharing more of their cautious views on tightening. Coupled with geopolitical risks stemming from North Korea, this could dampen the dollar’s gains as equities tumble.

Also, cryptocurrencies tend to enjoy more gains versus other asset classes during a risk-off market environment, so MobileGo could enjoy stronger demand if tensions keep escalating.

MobileGo continues to play counterpart to bitcoin and ethereum as it simply reacts to market factors driving those two cryptocurrencies lately.

MobileGo vs. Bitcoin

MobileGo was able to rebound 0.3% against bitcoin but a reversal pattern seems to be forming on the hourly time frame. A bit of a head and shoulders formation can be seen with price starting to break below the neckline at 0.000130.

The chart pattern spans 0.000130 to 0.000135 so the resulting selloff could be of the same size, taking MobileGo to 0.000125 against bitcoin next.

Volume popped higher so far this week to signal increased investor interest, which might probably be enough to sustain any breakouts. Bitcoin has been rebounding across the board after bouncing off a major area of interest against the dollar and seemingly brushing off news that China is officially curbing cryptocurrency activity in the country.

MobileGo vs. Ethereum

Against ethereum, MobileGo is still treading mostly sideways but appears to have broken below the support of a symmetrical triangle formation and is down 4.24%. This pattern spans 0.00177 to 0.00187 so the resulting selloff could be around the same height.

MobileGo is a dual-blockchain token that will “gamify” the GameCredits Mobile Store which currently has over 300 games from 150 different developers. The token is the first dual-blockchain asset ever issued, as users will be able to transfer it seamlessly between the ethereum and Waves blockchain.

This is achieved by using locked wallets and smart contracts that will be used to implement decentralized features on the GameCredits Mobile platform through ethereum and Waves.

MobileGo vs. USD

MobileGo could be able to score some gains to the US dollar this week as the FOMC is gearing up to announce its policy decision. No interest rate hike is expected for now, a contrast from expectations earlier in the year, but bulls are still hopeful that a December move is possible.

The Fed is also scheduled to print its updated economic forecasts and downgrades to GDP are eyed owing to the impact of Hurricanes Harvey and Irma. Also note that US retail sales turned out to be a disappointment so the Fed might stay cautious for now.

MobileGo seems to be reacting to various market factors driving its counterparts bitcoin and ethereum, ending in the red against the former and positive against the latter.

MobileGo vs. Bitcoin

MobileGo is a touch lower against bitcoin at -0.08% even as a head and shoulders neckline breakdown occurred for the latter. As it turned out, JPMorgan CEO Jamie Dimon remarked that bitcoin is a fraud and that the bubble will soon burst, leading bulls to liquidate some of their positions in the absence of other reports that could prop it higher.

Volume has been subdued, though, so it could take some time before MobileGo could establish a clearer direction. For now, this pair might simply take its cue from bitcoin price action.

MobileGo vs. Ethereum

Against ethereum, MobileGo has been able to chalk up 1.63% in gains as traders appear to be looking into other digital assets to invest in. Ethereum is also facing a major upgrade within the month and any signs of trouble could lead bulls scurrying.

MobileGo is a dual-blockchain token that will “gamify” the GameCredits Mobile Store which currently has over 300 games from 150 different developers. The token is the first dual-blockchain asset ever issued, as users will be able to transfer it seamlessly between the ethereum and Waves blockchain.

This is achieved by using locked wallets and smart contracts that will be used to implement decentralized features on the GameCredits Mobile platform through ethereum and Waves.

MobileGo vs. USD

MobileGo is facing downside pressure to the dollar, which is currently staging its third consecutive day in rallies for the week. Increased focus on tax reform by the Trump administration in the absence of new updates from North Korea has revived US markets in hopes of fiscal reform happening before the end of the year.

At the same time, positive expectations for this week’s CPI release are also propping the US currency higher across the board as leading indicators such as PMI and PPI have reflected a rebound in input costs that would likely be passed on to consumers. This sets the tone for a hawkish FOMC statement this month.

MobileGo continues to rake in losses versus counterparts bitcoin and ethereum as news of China shutting down exchanges has weighed heavily on investor sentiment.

MobileGo vs. Bitcoin

MobileGo was off to a weak start this week and appears to be having no success in attempting to break past the 0.00013 resistance. Volume has been subdued but bears are defending that level strongly, likely pushing MobileGo to dip back to the spikes down close to 0.00011.

However, it’s also worth noting that bitcoin is in a weak spot against the dollar and has formed a head and shoulders classic reversal pattern. This could be ominous of further declines, which MobileGo might be able to take advantage of.

MobileGo vs. Ethereum

The downtrend is also continuing for MobileGo versus ethereum as it is down 3.20%. A descending trend line or channel can be drawn to connect the highs in the past few days, which means that MobileGo could aim for new lows closer to 0.00170 next.

Volume has been more sustained for this particular cryptocurrency pairing so there might be enough volatility to keep the selloff going. In any case, price might still find a bit of near-term support around 0.00175.

MobileGo vs. USD

A relief rally has been in play for the US dollar at the start of the week thanks to subdued tensions with North Korea and reports that Hurricane Irma is weakening. This has led to broad gains across US equities, on top of news that GOP leaders will pursue tax reform and budget meetings within the week.

Looking ahead, however, there’s still a pretty good chance that geopolitical risks would return as the UN Security Council moves to vote on North Korean sanctions today. The US has removed an oil embargo and a freeze on Kim Jong-un’s assets from its proposals in hopes of avoiding a veto from China or Russia, but North Korea has previously stated that the US will pay due price if harsh sanctions are imposed.

MobileGo has been trending lower against bitcoin and ethereum, currently showing a pullback opportunity from the ongoing selloff.

MobileGo vs. Ethereum

MobileGo is forming lower highs against ehtereum and has found support around 0.00195, creating a descending triangle pattern. Price is currently bouncing off support and is on its way to testing the resistance.

If resistance holds, another dip towards support might happen. However, it’s also important to note that MobileGo is approaching the peak of the triangle formation so a breakout in either direction is bound to happen sooner or later.

Volumes have been sustained so there’s sufficient investor interest to keep volatility in play. A break past the 0.0020 level could be enough to draw more buyers in and sustain an uptrend while a move below 0.0019 might confirm a bearish breakdown and spur a continuation of the downtrend.

MobileGo vs. Bitcoin

Against bitcoin, MobileGo is down 5.03% as it moves in a descending channel formation. Price has formed lower highs since yesterday and has been showing lower lows as well.

Volume has been somewhat subdued in the past few hours, indicating weaker investor interest in this pair. Traders may be playing it safe and waiting for more directional catalysts after China announced a ban on ICO funding.

MobileGo vs. USD

Dollar price action has tossed and turned recently, but it looks like the focus is returning to local developments. For one, FOMC policymakers warning about the dangers of weak underlying inflation have dampened Fed rate hike expectations for this month and December since this has been backed by actual economic data.

Then again, news that lawmakers have agreed to push the debt limit back to December 15 this year has been dollar-positive since this lessens the risk of a government shutdown. For now, traders are keeping close tabs on how much damage Hurricane Harvey has caused and how much damage Hurricane Irma is expected to cause.

MobileGo is back in selloff mode after failing to break past key resistance levels against bitcoin and ethereum.

MobileGo vs. Ethereum

MobileGo was rejected on its test of the 0.0024 resistance level and is now down 5.49% to ethereum. Price is currently testing an area of interest at the 0.0020 level and a bounce could take it up to the latest highs. On the other hand, a break below support could take it to the next floor at 0.0016.

Volume has been relatively subdued even as cryptocurrencies have regained the limelight on resurfacing geopolitical tensions. Over the weekend, North Korea conducted a larger missile launch test, leading South Korea to start prepping for a potential attack with a missile test of their own.

MobileGo vs. Bitcoin

Against bitcoin, MobileGo is down 16.33% even as China’s decision to ban ICO financing weighed on the industry. MobileGo is also testing an area of interest or former resistance at 0.00014 and if this holds as support, price could bounce back up to the 0.00018 swing high.

On the other hand, a break below the 0.00014 mark could take MobileGo down to the next floor around 0.00011 against bitcoin. Volume has also been relatively weak as traders may be waiting for more market catalysts to gauge how these cryptocurrencies could fare.

MobileGo vs. USD

Dollar demand has also been revived even after data from the economy hasn’t been so impressive. Hopes for a September hike have been dampened by the NFP report but it looks like this scenario has been priced in and traders are setting their sights on December instead.

Also, Chinese regulation is hurting interest in cryptocurrencies these days, although the more popular ones like bitcoin and ether have managed to outpace their peers. As it turns out, Chinese agencies like the People’s Bank of China, the Central Network Office, the Ministry of Industry and Information Technology, the State Administration for Industry and Commerce, the China Banking Regulatory Commission declared that “all types of currency issuance financing activities shall cease immediately.”

It also stated that regulation on trading platforms shall be tightened and that “persons or organizations who have completed ICOs shall refund the investors, protect the investors’ rights, and deal with the risks properly. “

MobileGo has staged strong gains against bitcoin and ether as rival cryptocurrencies appear to be attracting more investor interest in the past few days.

MobileGo vs. Bitcoin

On the short-term time frame, it can be seen that MobileGo has completed a pullback from its recent rally against bitcoin and looks ready to resume the climb. Price bounced off support at 0.00023 and is on its way to testing the swing high at 0.00024.

Zooming out to a longer-term time frame shows that MobileGo has formed higher lows against bitcoin, also indicative of rising bullish pressure. Support at 0.00020 continued to hold and a break past the nearby area of interest at 0.00025 could send price up to the next barrier at 0.00030 then to 0.00035. Volume has been higher in the past week.

MobileGo vs. ETH

Similar to bitcoin, MobileGo has also advanced against ethereum after completing the pullback to 0.0029. This area appears to be holding as support as reversal candlesticks formed.

Sustained upside momentum could take MobileGo up to the highs just slightly past 0.0030. Volume is also elevated so there may be enough investor interest to take it higher, but a larger pullback could still find support at 0.0027.

Zooming out to a longer-term time frame, however, reveals that the downtrend still seems intact for ethereum. Price is channeling lower and has formed slightly lower lows to show that bears could still have a fighting chance.

Keep in mind that ethereum is taking advantage of the dip in bitcoin interest as traders are wary of incompatibility issues arising from the existence of bitcoin cash. Just recently, it was reported that this rival version is gaining more mining power and therefore investor interest.

MobileGo vs. USD

Against the dollar, MobileGo could also be poised for some gains as the US currency is currently being bogged down by concerns surrounding Hurricane Harvey and the disruption on oil refinery operations. This has also led analysts to predict a sizeable dent on Q3 growth figures.

However, the upcoming NFP release could have a strong impact on USD movement later in the week as this might set the tone for the next FOMC meeting.

MobileGo chalked up large losses agains bitcoin and ethereum, even as hard fork concerns resurfaced for the former.

MobileGo vs. Bitcoin

MobileGo is down 4.77% against bitcoin, which is actually weakening from its recent rally. Rival bitcoin cash is attracting more investors as it reportedly generates new blocks 1-2 minutes faster than the original core version.

Consolidation can be seen on the MobileGo chart versus bitcoin and a break in either direction seems possible. A move past the 0.0023 level could be enough to confirm that bulls have gotten the upper hand while a move below 0.0022 could be an indication of increased selling pressure.

More reports indicating stronger support for bitcoin cash, however, could reduce demand for bitcoin and allow MobileGo to take advantage.

MobileGo vs. Ethereum

Against ethereum, MobileGo saw a 4.39% decline in value as it tests another major support zone at 0.0029. A break below this level could expose it to steeper losses as ethereum has also been snagging most of the trading volumes away from bitcoin.

Another long red candle closing below the 0.0029 level could be enough to confirm that sellers have gained the upper hand. But if support holds, MobileGo could climb back to the next resistance at 0.0030 against ethereum. Volume has been sustained on this one so there might be enough investor interest to spur a bounce.

MobileGo vs. USD

Lastly, MobileGo could also be poised to take advantage of dollar weakness since cryptocurrencies have gained in times of risk aversion. Risk-off factors are coming from North Korea and within Washington so it’s no surprise that even the safe-haven dollar is taking a hit.

Trump has threatened to shut down the government if he’s not given the funds to build the wall along the Mexican border. Although some say that his bark is worse than his bite, these kinds of comments usually worsen the rifts within the government. Keep in mind that the Trump administration is still trying to get back on its feet after the political fallout from Charlottesville.

MobileGo tumbled against bitcoin and ethereum as these managed to take the lion’s share of the cryptocurrency rebound.

MobileGo vs. Bitcoin

MobileGo chalked up a whopping 15.33% loss to bitcoin as the latter has been surging to one record high after another this week. Renewed sentiment after the bitcoin hard fork has rendered it superior against other cryptocurrency rivals since the upgrade has allowed it to handle more transactions.

MobileGOh as tumbled below a short-term support area, signaling that further losses are in the cards. Volume has also spiked higher during the move to reflect momentum.

MobileGo vs. Ethereum

Against ethereum, MobileGo was also in a weak spot as it dropped 14.93%. Price appears to be forming a double bottom, though, but is testing resistance at the broken 0.0028 support.

Volume is weaker for ethereum, however, as much of investor interest has been on bitcoin.

MobileGo vs. USD

Lastly, MobileGo was flat to the dollar as traders might be waiting for more clues on Fed policy. The CPI report printed last Friday turned out weaker than expected and may have dampened demand for the currency on lower Fed rate hike hopes.

The retail sales report is due next and this might not generate as much of a reaction from the dollar unless the actual figures post either a significant upside or downside surprise. The FOMC meeting minutes might have more of an impact on the dollar against its peers.

Apart from that, market sentiment could also determine where MobileGo might trade next. Cryptocurrencies generally gain support during risk-off days since investors are on the hunt for higher returns outside of traditional markets that might be impacted by geopolitical risk.

But with bitcoin leading the rallies these days, other cryptocurrency alternatives like MobileGo haven’t been so fortunate. An improvement in market sentiment if the tension with North Korea eases could also mean profit-taking for MobileGo and further losses.

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